Reinsurance News
MS&AD to deploy Tractable’s AI in Japan
4th November 2020
Global property and casualty insurer, MS&AD Insurance Group Holdings, is deploying Tractable’s Artificial Intelligence (AI) in Japan via both Mitsui Sumitomo Insurance (MSI) and Aioi Nissay Dowa Insurance (ADI). MS&AD is set to use AI to accelerate how it processes auto claims in an effort to speed up recovery for its ... Read the full article
APCIA welcomes review of Indonesia’s GSP eligibility
4th November 2020
Steve Simchak, department vice president and head of international at the American Property Casualty Insurance Association (APCIA), has recently commended the Office of the U.S. Trade Representative (USTR) as it successfully concludes a review of the Indonesia’s Generalised System of Preferences (GSP) eligibility. The agreement allows US reinsurers to offer reinsurance ... Read the full article
Lloyd’s underwriting room to close four days a week as second lockdown looms
3rd November 2020
Lloyd’s of London has announced alterations to the opening hours of its underwriting room, in response to recent lockdown measures introduced by the UK government. This announcement comes as businesses across the country are being urged to work from home if possible. Between November 5 and December 2, the space will remain ... Read the full article
Brian Green joins Topsail Re as General Counsel & Head of Claims
3rd November 2020
Cayman Islands-based reinsurer Topsail Re has announced the addition of Brian Green as General Counsel & Head of Claims. Green joins Topsail Re from Ascot, where he most recently served as General Counsel and Secretary, North America. He spent two years in this New York based role and helped Ascot to launch ... Read the full article
Hudson Structured to take majority stake in Southern Fidelity
3rd November 2020
Hudson Structured Capital Management Ltd. (HSCM Bermuda), the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced plans to take a majority ownership of Southern Fidelity Insurance Company (SFIC). In exchange for its majority stake, HSCM Bermuda will provide a capital injection into SFIC. HSCM Bermuda will also take an ... Read the full article
Howden Specialty launches new Sustainable Energy practice
3rd November 2020
Howden Specialty has announced the launch of its new Sustainable Energy practice along with several significant new hires as part of its strategy to become the global market leader in the sector. The team is led by Deborah Duss and is mainly based in London whilst expanding its geographical footprint with ... Read the full article
Athene’s Q3 net income rises by 125% to $622mn
3rd November 2020
Bermuda-based provider of retirement and savings solutions, Athene Holding Ltd., has reported a rise in net income to $622 million for the third-quarter of 2020, driven in part by favourable changes in the fair value of reinsurance assets owing to tightening credit spreads. Net income of $622 million represents a substantial ... Read the full article
Global Asia Insurance Partnership to launch in January
3rd November 2020
A new tripartite partnership between the global re/insurance industry, regulators and academia is set to launch in January, with the aim of building resilience and addressing protection gaps in Asia. The Global-Asia Insurance Partnership (GAIP) was announced at the Singapore International Reinsurance Conference (SIRC) 2020 virtual conference by Deputy Prime Minister, ... Read the full article
Heritage names Ernie Garateix as CEO
3rd November 2020
Florida headquartered property casualty insurance holding company, Heritage Insurance Holdings, Inc., has announced the promotion of Ernie Garateix to CEO. Garateix, who currently serves as Heritage’s Chief Operating Officer (COO), will also join the company’s Board of Directors. He will take over from Heritage’s co-founder, Bruce Lucas, who is set to retire ... Read the full article
Universal announces homeowners insurance in Iowa
3rd November 2020
Florida headquartered and expansive primary insurance carrier Universal Insurance Holdings, has announced that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (Universal Property), has written multiple policies in Iowa since the end of Q3 2020. This will mark the 19th state where consumers can purchase a Universal Property policy through ... Read the full article
UK Court confirms BI case appeal hearing in November
3rd November 2020
The UK Supreme Court has granted permission for the FCA and a group of re/insurers to appeal its ruling on the business interruption (BI) test case brought forward by the regulator earlier this year. The hearing will take place by video link from Monday 16 November 2020 and is estimated to ... Read the full article
AXIS adds trio to US renewable energy team
3rd November 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has announced the addition of three underwriters to its US Renewable Energy Team. Kristopher Williams and Melissa Marsh have both joined the team as Renewable Energy Underwriters, while Kevin Motta has joined as an Assistant Underwriter. All three will focus ... Read the full article
Crawford & Company net income doubles in Q3
3rd November 2020
Crawford & Company, a provider of claims management solutions, has released its Q3 results which show that net income has more than doubled to $24.4 million, compared with $11.0 million in the same period last year. However, on a non-GAAP basis, the company’s net income totalled $15.2 million in Q3, compared ... Read the full article
Chubb names Jason Luyt as CUO for International A&H
3rd November 2020
Global re/insurer Chubb has announced the appointment of Jason Luyt as Senior Vice President and Chief Underwriting Officer, International Accident & Health (IAH). He is currently serving as Chief Underwriter for the division's leisure travel and direct market business until his appointment comes into place on 1st January. In his new role, ... Read the full article
Apollo sees major property cat opportunities in Pelican, JC Flowers partnership
3rd November 2020
Independent specialist re/insurer Apollo Syndicate Management has underlined the opportunities it sees in the property catastrophe reinsurance space, ahead of its operational partnership with Pelican Ventures and J.C. Flowers & Co. It was announced yesterday that Argo had reached an agreement for the two private equity investors to acquire its ... Read the full article
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